Well, yea
November 8, 2009 | Ohio, industry | Comments (0)Ohio payday lenders are pointing to bank fees as the reason payday loans are needed. From the story:
In Ohio, payday lenders are pointing to bank fees as a reason state lawmakers should not try to crack down again on them. Some lawmakers want to go after the banks too, but they are limited by federal law.
State Rep. Tyrone K. Yates, D-Cincinnati, has proposed capping overdraft fees at $5 per transaction and not allowing banks to offer overdraft protection without a customer’s permission. But the state Department of Commerce said the bill would apply only to state-chartered banks, which include Fifth Third and a host of small, community banks.
Exactly, federally charted banks would still charge what they want. Transparency is the key.
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